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OIL HIT $126 A BARREL AS US-IRAN CEASEFIRE FRACTURES, BRENT UP 40% SINCE WAR BEGAN

UAE quits OPEC+; Strait of Hormuz blockade holds; Nigeria's fuel costs directly linked Oil prices have surged to their highest level since Russia's 2022 invasion of Ukraine, with Brent crude hitting $126 a barrel intraday as the United States and Iran traded fire in the Strait of Hormuz and the ceasefire that had nominally held since early April collapsed under renewed military pressure. Brent crude rose as much as 7.5 per cent in a single session after US and Iranian forces

NIGERIA'S FIVE BIGGEST BANKS EARNED ₦18.2 TRILLION IN 2025, BUT PROFITS COLLAPSED ON LOAN PROVISIONS

FUGAZ assets hit ₦161.4 trillion; First HoldCo PAT fell 92%; Fitch projects 20%+ loan growth in 2026 Nigeria's five largest banks collectively earned ₦18.2 trillion in gross income in 2025 and expanded their combined assets to ₦161.4 trillion, but a wave of elevated loan loss provisions triggered by the unwinding of regulatory forbearance sent profits sharply lower at three of the five institutions. Audited results for First HoldCo, United Bank for Africa, Guaranty Trust Hold

UAE quits OPEC+; Strait of Hormuz blockade holds; Nigeria's fuel costs directly linked

OIL HIT $126 A BARREL AS US-IRAN CEASEFIRE FRACTURES, BRENT UP 40% SINCE WAR BEGAN

UAE quits OPEC+; Strait of Hormuz blockade holds; Nigeria's fuel costs directly linked Oil prices have surged to their highest level since Russia's 2022 invasion of Ukraine, with Brent crude hitting $126 a barrel intraday as the United States and Iran traded fire in the Strait of Hormuz and the ceasefire that had nominally held since early April collapsed under renewed military pressure. Brent crude rose as much as 7.5 per cent in a single session after US and Iranian forces

18 hours ago1 min read

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OIL HIT $126 A BARREL AS US-IRAN CEASEFIRE FRACTURES, BRENT UP 40% SINCE WAR BEGAN

UAE quits OPEC+; Strait of Hormuz blockade holds; Nigeria's fuel costs directly linked Oil prices have surged to their highest level since Russia's 2022 invasion of Ukraine, with Brent crude hitting $126 a barrel intraday as the United States and Iran traded fire in the Strait of Hormuz and the ceasefire that had nominally held since early April collapsed under renewed military pressure. Brent crude rose as much as 7.5 per cent in a single session after US and Iranian forces

18 hours ago

NIGERIA'S FIVE BIGGEST BANKS EARNED ₦18.2 TRILLION IN 2025, BUT PROFITS COLLAPSED ON LOAN PROVISIONS

FUGAZ assets hit ₦161.4 trillion; First HoldCo PAT fell 92%; Fitch projects 20%+ loan growth in 2026 Nigeria's five largest banks collectively earned ₦18.2 trillion in gross income in 2025 and expanded their combined assets to ₦161.4 trillion, but a wave of elevated loan loss provisions triggered by the unwinding of regulatory forbearance sent profits sharply lower at three of the five institutions. Audited results for First HoldCo, United Bank for Africa, Guaranty Trust Hold

18 hours ago

63% OF NIGERIANS WANT INTEREST RATE CUT, CBN SURVEY FINDS, MPC MEETS TOMORROW

April inflation expectations survey released ahead of 305th MPC meeting; analysts project rate hold Sixty-three percent of Nigerians are calling on the Central Bank of Nigeria to reduce interest rates, according to the CBN's own April 2026 Inflation Expectations Survey, released ahead of the Monetary Policy Committee's two-day meeting beginning Tuesday. The survey, published by the CBN's Statistics Department under the Economic Policy Directorate, found that 63.3 per cent of